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Genmin Secures US$3M Convertible Notes from US Family Office to Boost Baniaka Project
11:48pm on Monday 2nd of June, 2025 AEST
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Mining
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Genmin Secures US$3M Convertible Notes from US Family Office to Boost Baniaka Project
11:48pm on Monday 2nd of June, 2025 AEST
Key Points
US$3 million convertible notes offer with US-based sophisticated family office
Funds to advance Baniaka iron ore project development and general working capital
Notes unsecured, 12% coupon, maturity June 2027, convertible at 25.1% premium
Issuance in two tranches, second tranche subject to shareholder approval
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